Start your Old Town home search here.
Old Town & Old Town Triangle
Housing Type: Condo
There has been a nice stream of new listings coming into the condo market in Old Town. Just like last month, homes are still selling fast, with an average market time of under 2 months. Plus, some of the homes that closed still had market times of less than 1 or 2 weeks! This remains a great time to sell in Old Town. There are plenty of buyers and inventory is just low enough to demand higher prices, but not too low for buyers to feel that their choices are limited. The median sales price for condos in Old Town was $274,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Old Town & Old Town Triangle
Housing Type: Townhome
This market is still moving so fast it's hard to keep up! There are hardly any listings available and when they do come to market they are going under contract super fast. Just look at the $800-900k range, last month there were 2 on the market in that range. Now, just a month later 2 have sold, 1 is under contract, and again there are 2 available. Old Town definitely needs more townhome listings. Sellers are almost guaranteed a quick sale in this market. Of course, they still need to make sure their home shows well and is priced for the market. Even in the fastest moving markets buyers flock to the serious sellers. The median price for townhomes was $855,000.
Price Range: $400,000-800,000
Price Range: $800,000+
Old Town & Old Town Triangle
Housing Type: Single Family
The single family homes have not been moving as fast as the other housing types in Old Town. We've seen some closings in relatively short time, but there have also been a few price changes and some cancellations. Sometimes when it is time to lower the price of a home the agent will cancel the listing, then relist the home at the new price. This helps give visibility to the home again. Agents who are looking in that market will reveiw the Hot Sheet each day. The Hot Sheet is a tool that lists all the changes that have happened in an area, what is new to the market, what went under contract, what sold, etc. Many agents pay particular attention to what is new, knowing that they have already seen the homes that are simply changing price or going under contract. Therefore, by cancelling the listing and relisting at the new price the home will show as New on the Hot Sheet, even though it technically has been on the market already. In order to do this the seller and agent need to write a new listing agreement. The median sales price for single family homes was $784,500.
Price Range: $600,000-1m
Price Range: $1m+
Start your Old Town home search here
*In this blog series we focus on one of twenty neighborhoods in Chicago, each day, and provide charts to give you a brief update on the activity that neighborhood has seen over the past month in a variety of price ranges for Single Family Homes, Townhouses, and Condos, as available.
When looking at these charts please keep in mind that not every housing type is available in every neighborhood (the Loop only has condos) and some homes compete within even smaller subsections than these, meaning we can dig even further in this data. Please let me know if you would like a personal assessment of your target market.
For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!
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